Biotech Small Cap CEO Sells Shares for 3 Consecutive Weeks, Cashing Out 17 Billion Won

Roger Jeffs, CEO of U.S. biotech firm Liquidia Corp. (LQDA), sold a total of 225,000 shares of the company’s stock on the open market in three separate transactions from May 8 through May 20 under a pre-established Rule 10b5-1 trading plan. The shares traded between approximately $41.50 and $61.30 per share, generating roughly $12.6 million in proceeds (about KRW 17 billion). Following the sale, Jeffs still holds more than 1.2 million shares, both directly and indirectly, and has a substantial number of unvested restricted stock units remaining, according to company filings.

On June 8, Liquidia disclosed that it will be added to the S&P SmallCap 600 index, effective before the U.S. market opens on June 22.

In its first-quarter 2026 financial results, announced on May 11, the company reported net income of approximately $53 million (around KRW 70 billion), driven by about $130 million (approximately KRW 170 billion) in revenue from its flagship product, YUTREPIA, marking its third consecutive profitable quarter.

Based in Morrisville, North Carolina, Liquidia is a biopharmaceutical company focused on developing treatments for respiratory and vascular diseases, including pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease. Its lead product, YUTREPIA, is an inhaled treprostinil therapy developed using the company’s proprietary PRINT technology. YUTREPIA received U.S. Food and Drug Administration approval in May 2025 for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease and has been on the U.S. market since June 2025.